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I want to gather a number of estimates for the size of the global market for - healthcare - food - water - energy - space

Delivered May 10th, 2019. Contributors: Darius G., James T., Oshione S., Brian G., Andrew T. and

Part
01
of five
Part
01

Global Market Size - Healthcare

An estimated $8.141 trillion was spent on healthcare globally in 2018, according to our calculations, which would represent 9.60% of the world's GDP that year. A total of $7.724 trillion was spent on healthcare in 2017 and the figure is expected to rise to $10.059 trillion by 2022. About $6.76 trillion was spent on healthcare services, which accounts for 83% of the healthcare market globally. Below we have presented an overview of our research strategy, our calculations, and some additional findings from our research.

METHODOLOGY

We began our research by exploring organizations such as World Bank, IMF, Knoema to find data points on the global GDP. Also, we consulted reputable authorities for the global spend on healthcare like the WHO and PharmTech, along with healthcare market reports published by research firms such as Grandview Research, IBIS World, and Deloitte. Additionally, we reviewed media sources such as PR Newswire. Using this research strategy, we were able to locate information on the global GDP and healthcare spending, as well as the percent of the world's GDP that is used on this sector (average of five years). We then used the relevant data points and additional information (e.g., the projected value of global healthcare research, spending share of global healthcare services) to triangulate the global spend on the healthcare segment, as of 2018, healthcare services, and healthcare research.

TRIANGULATION/CALCULATIONS

GLOBAL HEALTHCARE SPEND

According to Deloitte, the global healthcare sector consumed $7.724 trillion in spending in 2017 and the projected CAGR from 2017 to 2022 is 5.4%. To calculate the 2018 value, we use a reverse CAGR calculator.


Therefore, the global market size of healthcare in 2018 was approximately $8.141 trillion. Additionally, the market size is expected to expand to $10.059 trillion by 2022.

PERCENTAGE OF THE WORLD'S GDP SPENT ON HEALTHCARE

As reported by Knoema, the global GDP in 2017 and 2018 was $80.7 trillion and $84.8 trillion respectively. To calculate the percentage of the world's GDP that was spent on healthcare, we divide the total healthcare spend in 2018 ($8.141 trillion) by the most recent GDP figure and multiply the result by 100. This calculation goes as follows:


Hence, 9.60% of the world's GDP in 2018 was allocated toward the healthcare segment.

GLOBAL SPEND ON HEALTHCARE SERVICES (PREVENTIVE, CURATIVE, AND REHABILITATIVE CARE)

Healthcare services comprise around 83% of the healthcare market size globally as of 2018. It serves as the largest division of this particular sector and includes rehabilitative, curative, and preventive care. To determine the dollar amount for healthcare services, we multiply the global spend healthcare in 2018 ($8.141 trillion) by its market share (calculated as 0.83). This calculation resembles the following:

  • $8.141 trillion * 0.83 = $6.76 trillion

As demonstrated above, the global market size of healthcare services in 2018 was $6.76 trillion.

GLOBAL SPEND ON HEALTHCARE RESEARCH

By the year 2025, global spending on healthcare research is projected to hit $54.7 billion. Healthcare research is anticipated to grow at a CAGR of 6.6% during the forecast period. To calculate the present value (2018) of healthcare research, we utilize a reverse CAGR calculator.


Therefore, the total global market size of healthcare services in 2018 was about $34.97 billion.

GLOBAL SPEND ON HEALTHCARE TECHNOLOGY

As reported by the HC Innovation Group, the global market size for healthcare technology is expected to improve from $134 billion in 2016 to $280 million in 2021, growing at a CAGR of 16%. To find the present value (2018), we use a reverse CAGR calculator.

  • Initial Value: $134 billion 
  • CAGR: 16% 
  • Number of Periods: 2 years (2016-2018)

Hence, the market size of healthcare technology in 2018 was at least $180 billion.

ADDITIONAL FINDINGS

US HEALTHCARE SPEND

According to Deloitte, spending on health in the United States surpasses $3 trillion annually. Its growth rate is expected to increase through the year 2024. Some significant spending categories in the country include the following:

Hospital Care: $1 trillion 
Physicians: $634.9 billion 
Prescription Drugs: $328.6 billion 

GLOBAL SPEND ON DRUGS

In 2018, the estimated global spend on drugs was around $1.2 trillion. By the year 2023, the market is projected to reach $1.5 trillion, growing at a CAGR of 3% to 6%.

COUNTRIES' GDP (2018)


Part
02
of five
Part
02

Global Market Size - Food

Our research team triangulated humans' annual total spend on food globally. The percentage of food spending to GDP is 13% in 2017 ($10.749 trillion of global food market size in 2017 / the global GDP $80 trillion in 2017), 12.7% in 2018 ($10.753 trillion of global food market size in 2018 / the global GDP $84.84 trillion in 2018) and 12.2% in 2019 ($10.757 of global food market size in 2019 / the global GDP $87.783 trillion in 2019).

METHODOLOGY

We started the research by looking for credible sources to provide information on the food consumer spending, the food processing, storage and handling market size and the food agriculture market size. Based on the statistics found, we have triangulated the total global food market size to $10.749 trillion in 2017, $10.753 in 2018 and $10.757 in 2019, using this formula: the total global food market size = (the global consumer food market + the global food processing market size + the average global food Agriculture per year). Next, we found the GDP in 2017, 2018 and 2019, and finally triangulated the percent of food market size to GDP (food market size / GDP per year).

GLOBAL FOOD MARKET SIZE: ANNUAL FOOD EXPENDITURE

As of 2017, the global food and beverages market was estimated to be over $5650 billion while the global food processing and storage, or handling market size in 2016 was estimated at $95 billion with a CAGR of 5%.

The estimated global food processing market size is $98.8 billion [($95 billion + ($95 billion * 0.04)] in 2017, $102.75 billion [$98.8 billion + ($98.8 billion * 0.04)] in 2018 and 106.86 billion [$102.75 billion + ($102.75 billion * 0.04)] in 2019.

The average global food in Agricultural sector is $5 trillion annually and the total global food market size can be triangulated to $10.749 trillion in 2017, $10.753 in 2018 and $10.757 in 2019 using the formula: global food and beverages market + global food processing market size + average global food agriculture per year.

GLOBAL GDP

According to the International Monetary Fund (IMF), the world economy in 2019 is projected to be $88.08 trillion in nominal terms against $84.84 trillion in 2018. The global GDP in 2019 is $87,782.807 million according to IMF and 2017 GDP is $80 trillion.

Percentage OF GLOBAL GDP

  • In 2017, the percentage of food spending to GDP is 13%. ($10.749 trillion global food market size in 2017 / the global GDP $80 trillion in 2017).
  • In 2018, the percentage of food spending to GDP is 12.7%. ($10.753 trillion global food market size in 2018 / the global GDP $84.84 trillion in 2018).
  • In 2019, the percent of food spending to GDP is 12.2%. ($10.757 global food market size in 2019 / the global GDP $87.783 trillion in 2019).

Part
03
of five
Part
03

Global Market Size - Water

The global spend on water in 2018 was $0.77 trillion ($770 billion), representing approximately one percent (0.91%) of the world's GDP. The global GDP in 2018 was estimated to be $84.8 trillion, according to IMF. We have outlined below, our research methodology and findings.

Research methodology

We commenced our search by combing through global economy statistics aggregators’ databases such as the World Economic Forum, the World Bank, and IMF in search of the percentage of the world’s GDP that is spent on water. We also searched for the breakdown of the global spend on water including global spend on water purification, transportation, and storage, or data points we could use in triangulating them. While data on the global GDP was publicly available, information on the percentage of the world’s GDP that is spent on water, the breakdown of global spend on water, including the spend on water purification, transportation, and storage was not.

We then proceeded to search through global water regulatory agencies'/authorities' databases such as The United Nations World Water Development (UN), and the World Health Organization (WHO) for information on the percentage of the world’s GDP that is spent on water, the breakdown of global spend on water including the spend on water purification, transportation, and storage. While these sources provided information on global water consumption, and prospects, none of them provided information on the percentage of the world’s GDP that is spent on water, the breakdown of the global spend on water including the spend on water purification, transportation, and storage.

We also consulted global water market reports published by reputable water market research organizations such as the Global Water Intelligence (GWI), and RobecoSAM for information on the percentage of the world’s GDP that is spent on water, global spend on water breakdown including global spend on water purification, transportation, and storage. While these sources provided information on the global spend on water, which include spend by the municipal and industrial users on water treatment, and transport.

While preexisting data on the percentage of the world's GDP that is spent on water seemed to be publicly unavailable, we used publicly available data (global GDP, and global spend on water) to triangulate the percentage of the world's GDP that is spent on water. Detailed steps followed in triangulation are outlined in the "percentage of the world's GDP spend on water estimation" section of the brief.

Findings

GDP (GLOBAL, US, CHINA, AND INDIA)

According to IMF's estimation, global GDP as of 2018 was $84.8 trillion. The Global GDP was $80.7 trillion in 2017. The US, China, and India had a GDP of $20.494 trillion, $13.407 trillion, and $2.717 trillion respectively in 2018.

GLOBAL SPEND ON WATER

According to an intelligent report on global water expenditure by Global Water Intelligence (GWI), the global spend on the water and wastewater, including water transport, and treatment (purification), as of 2018, was $770 billion ($0.77 trillion), and it is forecast to reach $914.9 billion by 2023 at an estimated CAGR of 3.51%. According to another report on global water expenditure jointly published by GWI and RobecoSAM in 2014, the global spend on water was estimated to be above $700 billion in 2018. The global spend on water is forecast to reach $1 trillion by 2025 at a CAGR of about 5% to 6%. 

While a breakdown of the global spend on water including spend on water transportation, and storage were not publicly available, we have outlined below breakdown of the global spend on water as publicly available:
  • In 2018, about $24 billion was spent on industrial water.
  • The global mining industry is forecast to spend $1.64 billion on water and wastewater in 2019.
  • The global spend on water purification (wastewater recovery system) is forecast to reach over $50 billion by 2024.
  • The global spend on municipal water reuse was $8.4 billion in 2016.

Percentage of the world's GDP that is spent on water (estimation)

The percentage of the world's GDP that is spent on water as of 2018 was estimated to be approximately one percent (0.91%) as follows:
The percentage of the world's GDP spent on water = the global spend on water/the global GDP * 100
Global GDP — $84.8 trillion in 2018
Global spend on water — $0.77 trillion in 2018
The percentage of the world's GDP that is spent on water = $0.77 trillion/$84.8 trillion * 100 = 0.91%

OTHER HELPFUL FINDINGS

  • China has budgeted about $110 billion per year for the next five years to curb environmental protection and pollution control issues including water and wastewater.
  • In the US, the state of California has committed to investing $500 billion in water over the next few decades, spending about $20 billion per year.
  • The global water storage facility market was estimated to be $11.62 billion in 2018, and it is expected to reach $14 billion by 2023 at a CAGR of 3.8%.
Part
04
of five
Part
04

Global Market Size - Energy

The International Energy Agency reported the total amount invested in energy globally was $1.8 trillion in 2017. According to our calculations, that figure represents 2.25% of the global GDP. In 2017, China was the largest destination for energy investment, and the United States was the second largest.

Methodology

We began our inquiry with an investigation into the total annual spending on energy. That investigation led us to articles and data from the International Energy Agency’s World Energy Investment reports. However, the latest data we were able to find was for 2017. The only exception was the estimated amount of total energy expenditure reported by the U.S. Energy Information Administration. The latest data available from that agency is from 2016; their 2017 update will not be available until 2018-5-31.

We came across data on energy intensity in the course of our investigation concerning investment spending vis-à-vis global GDP. We included these data in our report. Though the International Energy Agency calculated the percentage of energy investment relative to global GDP in 2017, they did not do so in 2018. Therefore, we estimated the figure ourselves using a simple equation: Energy spending/Global GDP * 100=1.8/80 *100=2.25%.

Global Market Size — Energy

According to the latest data from the International Energy Agency (IEA), global energy investment was $1.8 trillion in 2017. The IEA reported that 2017 marked the third consecutive year of decline in global energy investment; the latest figure represents a fall of 2% in real terms. CleanTechnica and Forbes noted that the IEA report highlighted an investment focus on electricity over oil and gas; global investment in the former fell to $750 billion (a 6% decline) but $715 billion was spent globally on the latter. While renewables also saw a 7% decline during this period, the segment also accounted for two-thirds of power generation spending (~$300 billion).

Using the World Bank’s estimate of 2017 global GDP ($80 trillion), we calculated the percentage of global GDP spent on energy investment to be 2.25%. The IEA reported that the percentage of global GDP spent on energy investment was 2.2% in 2016. Our figure for 2017 did not diverge significantly from IEA 2016 data. Tangentially, the Global Statistical Yearbook reported that 2017 global energy intensity was 0.116 koe/$2015p. Global energy intensity declined by 1.2% that year, which was slightly below the historical trend.

In 2018, the IEA reported that The People’s Republic of China (hereafter, “China”) received over one-fifth of the global total, making it the largest destination of energy investment in 2017; the United States consolidated its position as the second largest destination. In their 2017 report, the IEA indicated that China was the largest segment with 21% of global energy investment in 2016. The United States was second largest with 16% of investment; the U.S. Energy Information Administration estimated the dollar amount spent on energy in 2016 to be $1.04 trillion. And India was third largest with 7% of global investment.

Conclusion

In 2017, a total of $1.8 trillion was invested globally in energy. In 2016, the global investment in energy was 2.2% of the global GDP; we calculated the 2017 global investment to be 2.25%. In 2017, China was the largest destination for energy investment, and the United States was the second largest. In 2016, China received 23% of total global energy investment, the United States 16%, and India 7%.
Part
05
of five
Part
05

Global Market Size - Space Exploration

Global space exploration spend was a reported $383.5 billion in 2017, an increase from $323 billion and $329 billion in 2015 and 2016, respectively. As a percentage of global gross domestic product (GDP), this equals 0.47% in 2017, up from 0.43% in both 2015 and 2016. Of the $383.5 billion spent in 2017, $269 billion was spent on the satellite industry, with the remainder spent on non-satellite industries.

Global Space EXPLORATION Spend as a Percentage of GROSS DOMESTIC PRODUCT

After searching within a range of global economy statistics databases, the most up-to-date available data were taken from reports by Space Foundation and research by Bryce Space and Technology. Global space exploration as a percentage of GDP was calculated using global GDP data from the World Bank, which was $80.94 trillion in 2017, $76.15 trillion in 2016 and $75.04 trillion in 2015. Global space exploration spend was then divided by global GDP for each year and converted into a percentage, as shown below.

Global GDP in 2017: $80.94 trillion.
Global space economy value in 2017: $383.5 billion.
Percentage of the world's GDP spent on space exploration in 2017: ($383.5 billion (Global space economy value in 2017) / $80.94 trillion (Global GDP in 2017)) * 100.
Percentage of the world's GDP spent on space exploration in 2017: 0.47%.

Global GDP in 2016: $76.15 trillion.
Global space economy value in 2016: $329 billion.
Percentage of the world's GDP spent on space exploration in 2016: ($329 billion (Global space economy value in 2016) / $76.15 trillion (Global GDP in 2016)) * 100.
Percentage of the world's GDP spent on space exploration in 2016: 0.43%.

Global GDP in 2015: $75.04 trillion.
Global space economy value in 2015: $323 billion.
Percentage of the world's GDP spent on space exploration in 2015: ($323 billion (Global space economy value in 2015) / $75.04 trillion (Global GDP in 2015)) * 100.
Percentage of the world's GDP spent on space exploration in 2015: 0.43%.

Government space programs

According to research by Bryce Space and Technology, government space budgets, as opposed to commercial space budgets, which totaled $253 billion in 2016, were an estimated $82.9 billion in 2016. Out of the almost fifty countries with space budgets, nine had a government space budget of more than $1 billion, while close to 20 countries had government space budgets that were less than $100 million.

A breakdown of 2016 government space spending by country shows that the United States, China and the European Space Agency were world leaders, and the United States maintained its position in 2017 with a 57% share of global government space spending.

Estimated 2016 government space spend by country is as follows:

Conclusion

In conclusion, global space exploration spending totaled $383.5 billion in 2017, or 0.47% of global GDP, and the majority was spent on the satellite industry and on commercial space activities. The United States government spent most on space programs, followed by China and the European Space Agency.
Sources
Sources
From Part 01

World GDP Ranking 2018 | GDP by Country | Data and Charts - knoema.com

knoema.com
Publication Year: 2019
w

2019 Global health care outlook

www2.deloitte.com
Publication Year: 2019
Quotes
  • "Spending is projected to increase at an annual rate of 5.4 percent in 2017–2022, from USD $7.724 trillion to USD $10.059 trillion (figure 3), although cost-containment efforts combined with faster economic growth should maintain the share of GDP devoted to health care at around 10.4 percent over the five-year period to 2022.14"
  • "The health technology sector is expected to reach USD $280.25 billion by 2021, at a CAGR of 15.9 percent between 2016 and 2021."

CAGR Calculator (Compound Annual Growth Rate)

omnicalculator.com
Publication Year: 2019

Report: Global Healthcare IT Market to Hit $280B by 2021

hcinnovationgroup.com
Publication Year: 2017
Quotes
  • "The global healthcare IT market is projected to reach more than $280 billion by 2021, up from $134 billion in 2016, at a compound annual growth rate (CAGR) of nearly 16 percent during the forecast period, according to a MarketsandMarkets research report."
p

Global Medicine Spending to Top $1.5 Trillion by 2023

pharmtech.com
Publication Year: 2019
Quotes
  • "Global drug spending will reach $1.2 trillion in 2018 and is expected to top $1.5 trillion by 2023, according to a study from the IQVIA Institute for Human Data Science Study, released on Jan. 29, 2019. The projected 2023 spending level, up 50% from 2016, will be reached despite lower growth of 3–6% on an annual compound basis compared to 6.3% over the past five years."

Healthcare Global Market Report 2018

prnewswire.com
Publication Year: 2018
Quotes
  • "Healthcare Services was the largest segment in the healthcare market with an 83% share of the market. Healthcare services involve treatment for illness, disorders and injuries in hospitals and other emergency departments. "

Healthcare CRO Market Size Worth $54.7 Billion By 2025 | CAGR: 6.6%

grandviewresearch.com
Publication Year: 2019
Quotes
  • "The global healthcare contract research organization (CRO) market size is expected to reach USD 54.7 billion by 2025, according to a new study by Grand View Research Inc. It is anticipated to expand at a CAGR of 6.6% during the forecast period."
From Part 02

Food And Beverages Global Market Report 2018

prnewswire.com
Publication Year: 2018
m

Food Processing and Handling market size

mckinsey.com
Publication Year: 2018
m

Food Agri Business

mckinsey.com
Publication Year: 2017

StatisticsTimes.com | Collection of Statistics and charts

statisticstimes.com
Publication Year: 2019

Report for Selected Countries and Subjects

imf.org
Publication Year: 2019

The world’s $80 trillion economy - in one chart

weforum.org
Publication Year: 2018
From Part 03

World GDP Ranking 2018 | GDP by Country | Data and Charts - knoema.com

knoema.com
Publication Year: 2019

Global Water Market To Reach $915B By 2023 As Oil And Commodity Prices Recover, New GWI Forecasts Reveal

wateronline.com
Publication Year: 2018
Quotes
  • "New forecasts published by GWI have projected that the value of the global water market, representing the sum of both operating and capital expenditures by utilities and industrial water users on water and wastewater, is expected to grow from $770B in 2018 to $914.9B by 2023."

CAGR Calculator (Compound Annual Growth Rate)

omnicalculator.com
Publication Year: 2019
g

GLOBAL WATER MARKET 201

globalwaterintel.com
Publication Year: 2017
Quotes
  • "Almost every human activity involves water. In that sense everything we do is part of the water market. This report, however, aims to focus on the treatment and transport of water by municipal and industrial water users. This is the largest and richest area of water-specific spending, and there is a strong overlap between companies selling into the municipal market and those selling into the industrial market"
r

Water: the market of the future

robecosam.com
Publication Year: 2014

Growth expected for global water market and wastewater recovery

watertechonline.com
Publication Year: 2018
Quotes
  • "The global wastewater recovery systems market will exceed $50 billion by 2024, according to a study conducted by Global Market Insights Inc."

Global Water Storage Tank Market Report 2018: $14 Billion Opportunity, Trends, Forecast and Competitive Analysis 2012-2023

prnewswire.com
Publication Year: 2018
Quotes
  • "The global water storage tank market is expected to reach an estimated $14 billion by 2023 with a CAGR of 3.8% from 2018 to 2023."
r

The United Nations World Water Development Report 2018

reliefweb.int
Publication Year: 2018
u

The United Nations World Water Development Report 2017: Wastewater untapped resources

unido.org
Publication Year: 2017
From Part 04

Global Energy Spending Totaled $1.8 Trillion In 2017 As Clean Energy Investment Dropped 3% | CleanTechnica

cleantechnica.com
Publication Year: 2018
Quotes
  • "Total global energy investment fell by 2% in 2017, totalling $1.8 billion according to the International Energy Agency’s World Energy Investment 2018"

Energy intensity

yearbook.enerdata.net
Publication Year: 2018
Quotes
  • "The energy intensity is calculated by dividing the total energy consumption of a country by its Gross Domestic Product."

Energy and the economy | Natural Resources Canada

nrcan.gc.ca
Publication Year: 2018
r

Global Clean Energy Spending Dips in 2018 But Installations Rise on Lower Prices

renewableenergyworld.com
Publication Year: 2019
Quotes
  • "Investment in wind and solar energy, along with technologies like smart power meters, reached $332.1 billion last yea"
  • "China was again the biggest clean-energy spender at $100.1 billion"
  • "The U.S. was the second-biggest market for clean-energy investing with $64.2 billion"

United States - SEDS - U.S. Energy Information Administration (EIA)

eia.gov
Publication Year: 2019

The Global Energy System Is Becoming More Electric, But Not Fast Enough

forbes.com
Publication Year: 2018
Quotes
  • "Total investment in the sector was $1.8 trillion last year, 2% lower in real terms than in 2016."

Oil and Gas Spending Continues to Drop

maritime-executive.com
Publication Year: 2017
f

Energy Efficiency 2017

file
Publication Year: 2017
e

Energy and the MFF

europarl.europa.eu
Publication Year: 2017
Quotes
  • "Our best estimate of the total energy-relevant expenditure over the 2014-2020 period of the current MFF is estimated to be EUR 48.68bn (EUR 48.91bn in EUR ‘15)."
b

BP Statistical Review of World Energy 2018

bp.com
Publication Year: 2019

The world’s $80 trillion economy - in one chart

weforum.org
Publication Year: 2018
w

IEA| World Energy Investment 2018 (Executive Summary)

webstore.iea.org
Publication Year: 2018
w

IEA| World Energy Investment 2017 (Executive Summary)

webstore.iea.org
Publication Year: 2017
From Part 05
b

Global Space Industry Dynamics

brycetech.com
Publication Year: 2017

Space Foundation Report Reveals Global Space Economy at $329 Billion in 2016

spacefoundation.org
Publication Year: 2017

Space Foundation Report Reveals Global Space Economy at $383.5 Billion in 2017

spacefoundation.org
Publication Year: 2018
s

2018 State of the Satellite Industry

sia.org
Publication Year: 2018

World Bank - Global GDP

data.worldbank.org